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Kyrgyzstan is moving ahead with its national cryptocurrency strategy, launching a stablecoin and preparing for a public sector rollout of a central bank digital currency (CBDC),according to Binance co-founder and former CEO Changpeng Zhao (CZ).The new stablecoin, believed to be KGST, is pegged 1:1 to the national currency, Kyrgyzstan’s Som, and is registered in the State Register of Digital Assets. It differs from USDKG, a dollar-backed stablecoin backed by $500 million in gold reserves from the Kyrgyz Ministry of Finance planned to launch in Q3.At the same time, the country’s CBDC, the digital som, is now legally recognized and expected…

Three months after the landmark U.S. stablecoin legislation was signed into law, the bill is still in a public comment period. When the GENIUS Act was signed into law on July 18, 2025, the crypto industry hailed it as a significant piece of legislation globally, proposing federal regulations for stablecoins in the United States. Just over three months later, GENIUS has yet to go into effect — meaning that no stablecoin or stablecoin issuer is actively regulated by the it — even as established and new players position themselves to comply with the upcoming rules.Despite that, Anchorage Digital Bank, known for…

UK crypto investors could face tax bills even if they haven’t received warning letters from HM Revenue & Customs (HMRC), as the agency steps up efforts to track undeclared digital asset income.Last week, the Financial Times revealed that HMRC issued nearly 65,000 “nudge letters” in the 2024–25 tax year, more than double the number sent the year before. The letters urge investors to review their filings and voluntarily declare crypto-related gains before potential audits begin.However, tax experts warn that the agency’s growing use of exchange data and international reporting agreements means that investors who haven’t received a letter shouldn’t assume…

Federal Reserve Governor Christopher Waller floated the idea of the central bank creating a “skinny master account” for crypto firms which would grant them access to the Fed’s payment rails while keeping them away from a full Fed master account.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.The narrativeFederal Reserve Governor Christopher Waller suggested this week that crypto companies could use a limited version of the Fed’s master account system, which would let these firms access U.S. payment rails while limiting their exposure to certain…

Crypto hardware wallet provider Ledger recently announced a new multisig interface that has been broadly welcomed as a technical improvement but criticized for introducing a new fee structure that some users have called a cash grab.The Ledger Multisig application will charge users a flat $10 fee for all transactions except token transfers, which incur a 0.05% variable fee. These charges come in addition to standard blockchain network gas fees, which are independent of Ledger.Ethereum developer and X user pcaversaccio criticized the move, writing: “You parade as Cypherpunk while trying to make Ledger Wallet (rebranded from Ledger Live) the single choke…

CryptoWzrd, in his latest daily technical outlook, noted that Bitcoin managed to close in the green, but the candle remains indecisive, signaling that a clear reversal is yet to form. He added that more healthy bullish candles are needed to confirm a shift in momentum. For now, his attention is on the lower timeframes, where he plans to look for the next long opportunity once the current position is secured. Indecisive Daily Close Reflects Market Uncertainty After CPI Data Crypto analyst CryptoWzrd began his analysis by noting the ambiguity in recent price action, stating that the daily Bitcoin candle closed…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The REX-Osprey XRP ETF (XRPR) has achieved a major milestone. The product, launched on September 18, 2025, by REX Shares in partnership with Osprey Funds, has now surpassed $100 million in assets under management (AUM).  The announcement, which was made on X by REX Shares, is a defining moment for XRP investment products, as XRPR becomes the first ETF in the United States to provide investors with regulated exposure to the digital asset’s market price. XRPR Reaches Major Milestone The fund’s rapid growth to over $100 million…

Donald Trump pardoned Binance’s convicted founder Changpeng ‘CZ’ Zhao last night, according to a report from Wall Street Journal. According to people familiar with the matter, the United States (USA) President instructed his advisors that he relates to the political persecution felt by CZ during Joe Biden’s administration.Trump Wipes CZ’s Slate Clean, Binance Tag FreedWhite House’s press secretary Karoline Leavitt stated that Donald Trump has “exercised his constitutional authority by issuing a pardon for Mr. Zhao”, who was prosecuted by the Biden Administration’s “war on crypto” tactics. Since Trump‘s election, Binance’s crypto ecosystem has contributed towards building the Trump family’s…

The Bitcoin mining industry is becoming increasingly competitive, with so-called tier-2 operators closing the gap on established leaders in realized hashrate — a sign of a more level playing field following the 2024 halving.According to The Miner Mag, companies such as Cipher Mining, Bitdeer and HIVE Digital have rapidly expanded their realized hashrate after several years of infrastructure growth, narrowing the distance to top players like MARA Holdings, CleanSpark and Cango.“Their ascent highlights how the middle tier of public miners — once trailing far behind — has rapidly scaled production since the 2024 halving,” The Miner Mag wrote in its…

Investment banking giant JPMorgan Chase is reportedly planning to let clients use Bitcoin and Ether as collateral for loans, signaling Wall Street’s continued move toward embracing digital assets.The initiative would allow JPMorgan’s global clients to borrow against their Bitcoin (BTC) and Ether (ETH) holdings, according to a Bloomberg report published Friday, citing people familiar with the matter. The offering would store clients’ Bitcoin and Ether holdings through a third-party custodian, according to people who spoke to the news outlet.If confirmed, the development could make the two leading cryptocurrencies more attractive for institutional investors, akin to the historic approval of the…